Americans who are looking to buy a house should think about making the move relatively quickly, as the housing cycle is long, and home prices are seemingly favorable right now. A recent article for USA Today outlined how the United States is beginning to recover from its recent housing crisis.

Currently, home prices are at their lowest since 2003, according to statistics from the National Association of Realtors. However, the window for great deals is beginning to close, as values are beginning to tick upward in a number of markets.

Although some experts said the housing market to the north, in Canada, may endure the same type of troubles as the United States has faced the past five years, a recent MarketWatch report says Toronto's housing market will not suffer nearly the same fate.

“There isn’t a U.S.-style bubble to be burst,” said Tom Lewandowski, a Canadian bank analyst with Edward Jones. “Given the structure of the Canadian mortgage market I don’t think you are going to see a similar amount of foreclosures [as in the United States].”

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